Stan and John monitored the share and tried to advance a triple point. Stan declares: “At a sight at peak and averages for the last 30 periods, the facts indicate that a turn it will be exact on 50. I am assured; it should be precisely on 50”. John answers: “Is it exact 50? Perhaps approximately 50, but I would not specify”. At these two traders are very different personal characteristics regarding a sight at the information and making of conclusions. Stan wishes to concentrate only on the objective facts. He is “rigidly logical” generator of decisions. John, on the contrary, is based more on intuition. He sees so-called facts, simply, as subjective interpretations. Like many skilled traders, John is based on an abstract sense of the market and trusts the intuition. He is an intuitive trader.
How do you see the world and collect the information on it? Do you need facts and accurate details? Or are you actually more intuitive? You do not trust in the facts. You think that the validity is subjective, depending on a structure of the thinking, which is distinct from the person to the person. You prefer to think in theoretical and abstract terms. Gauge types prefer the cold firm facts and see the world rational and predicted. Intuitive types are more freakish; they see the world casual, theoretical and conceptual. This typology can be applied and to trading methods. What type of the trader are you?
The trader-gauge, for example, can wish to learn a certain resistance barrier, where resistance will be shown. He would prefer to follow a certain set of rules to state accurately, where there will be a resistance. The intuitive trader, on the contrary, simply considers “rules” of identification of resistance, as only principles, which can sometimes work, sometimes are not present. For example, resistance on round number or in the order the previous peak or a bottom will be possible, and probably will not be. Anybody for certain does not know anything; such principles – only possibilities. Here again the intuition allows cutting unduly difficult variants of a choice. Gauges look at market concepts literally, trusting in their validity, instead of in abstract concepts. The intuitive trader looks at the markets in figurative sense. All signals and indicators are subjective in long run, they can be a little inexact, and with some accuracy to display the validity. There is a chance that they will appear wrong, but anything terrible.
When business concerns the market, as a whole it is more favorable to be the intuitive trader. Reading of schedules and a sense of the market – is subjective. Trading decisions base simply on educated guesses. They are not exact, and are casual, unpredictable and conceptual. They are not linear. Skilled traders and masters of trade have noticed for a long time that it is difficult to gauges to learn to trade. They wish to find all certain facts and firm rules, which can be used to predict the market. They think that if to find a correct set of signals, it is possible to make the big profit. It would be good, if it was so simply but if it was so, there would be geniuses in economy and other areas – billionaires of the market, but they are not present. Why? As the markets are so difficult and chaotic that the intuition, guesses, and some kind of creative skill is required consistently to win. The logic analysis of the facts and numbers can get very far when you try to trade in the market, with inexact numbers. So, if you are an intuitive type, you have good inclinations. And if you are the gauge, try to develop the intuition. Become the intuitive trader, and you will see that the profit will grow.
Before you decide to make a forex investment or start forex trading yourself, better find a good forex book and learn more about the currency exchange market – this will save you from tons of troubles and traps.